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6 Community Association Management Trends to Watch in 2023

6 Community Association Management Trends to Watch in 2023

  • Posted: Aug 09, 2023
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Interesting research on the community association industry. Especially, given that seventy-eight percent of new homes for sale are located in community associations. There are 358,000 associations across the country, and it’s estimated that 5,000 more will be formed in 2023. Here presented are six trends that CAMs and boards are likely to see, including the absence of new board members. However, I think it is less to do with apathy than before Surfside and more to do with risk associated with a voluntary, unpaid, thankless job.

As part of our cross communications with other groups we are posting this for our industry – SFPMA

 

Wondering what 2023 holds for the community association management industry?

We were, too. That’s why Buildium asked 240 community association managers and board members about the challenges and opportunities they foresee for the industry this year.

They told us the community association sector is more popular than ever among developers, residents, and management companies—but there are several key challenges that community association managers and leaders need to address head-on, so they continue to thrive.

From shortages of team members, vendors, and volunteers to increasing competition among management firms, here are the six trends community association management companies should be aware of in 2023.

 

1. Staffing is a top priority as the labor shortage continues to strain teams’ resources.

Smaller community association management companies are competing with larger companies and developers for full-time team members and high-quality contractors, leading to higher staffing costs and smaller teams.

According to Buildium’s research, this is a leading challenge for the 85% of companies that plan to expand their portfolios throughout 2023 and 2024, prompting community association management companies to name staffing as their second-highest priority for the coming year.

 

2. Efficiency is a primary area of focus as teams search for ways to do more with less. 

Technology is the X factor that allows community association management teams to take on more clients, even as their teams remain smaller than in the past. Streamlining processes like payments, communications, and accounting frees up time for the most impactful areas of the business, such as customer service and business development.

More than half of community association management companies told Buildium that leveraging technology to drive efficiency is a key aspect of their revenue generation strategy for 2023.

 

3. Competition for clients highlights the importance of high-quality customer service.

The Foundation for Community Association Research estimates there are 8,000 to 9,000 community association management companies in the U.S. In certain areas, smaller companies feel they’re being edged out by larger firms that can charge less for their service due to economies of scale.

Association board members told us they can feel the difference between customer service that’s personalized to their needs, and service that’s one-size-fits-all. This is where smaller companies have a competitive edge.

 

4. New development means new potential clients for community association managers.

Seventy-eight percent of new homes for sale are located in community associations. There are 358,000 associations across the country, and it’s estimated that 5,000 more will be formed in 2023.

This creates new opportunities for 88% of community association management companies that plan to recruit new clients over the next two years, with growth named as companies’ third-highest priority for 2023, according to Buildium’s survey.

 

5. Profitability is a challenge as companies balance the pressure to increase prices with the need to stay competitive.

Inflation has increased the cost of running associations across the board, from materials and labor (on the management side) to insurance and taxes (on the association side). Association boards are feeling the strain of pulling together sufficient reserves and funding for capital projects without raising dues or requiring special assessments.

Association management companies are under pressure to keep prices low to stay competitive—but 70% of companies feel it’s necessary to raise prices to cover their costs in 2023 and 2024. Our research found 43% of companies plan to expand the services they provide, potentially opening new revenue streams.

 

6. Community associations are struggling to recruit engaged, knowledgeable board members.

According to Buildium’s research, 38% of association board members said finding the people and resources necessary to keep their community running as a primary source of stress in 2023.

Current board members—80% of whom are 60 and older—feel frustrated with the lack of participation from newer homeowners; and boards that experience frequent turnover struggle to find members who have the knowledge to make important decisions for the community.

Overall, association boards and management companies feel more involvement in the community from homeowners is needed, in addition to greater awareness of their responsibilities as residents of an association.

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These are some of the challenges and opportunities that association managers and leaders will face in 2023. For a deeper dive into 2023 community association management trends, download our 13-page report, which shares additional data and quotes from real community association management professionals and board members. Download your free copy now.

SFPMA.com is here to help you make the right decision for your properties.

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Simplify Your Accounts Receivable with These Proven Tips! by Condo Control

Simplify Your Accounts Receivable with These Proven Tips! by Condo Control

  • Posted: Aug 09, 2023
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We help condominiums and HOAs establish better processes so that they can operate more efficiently and effectively.

Simplify Your Accounts Receivable with These Proven Tips!

Struggling with managing accounts receivable in your condo or HOA? We’ve got you covered! Discover effective strategies to streamline your financial processes and ensure timely payments.
We’ve seen it for ourselves. We harnessed the best of technology to create software that streamlines and automates almost every aspect of community operations.
…………………………………………

There would be no Condo Control without Brian Bosscher. Brian had no professional property management experience, but he did understand the frustrations that plague condo communities after purchasing a unit in 2006. Looking to help improve operations, Brian joined his building’s finance committee immediately. He started volunteering on the Board of Directors as Treasurer the following year, and then became the Board President.

It was through volunteering that he learned about the challenges and roadblocks that property managers encounter on a day-to-day basis, and witnessed the inefficiencies that prevented them from reaching their goals. It was this experience that inspired Brian to build a long-term solution, and Condo Control was born.

How to simplify accounts receivable for your condo/HOA

When residents pay their fees or fines, these payments are documented under accounts receivable (AR). Vendor credits are also logged under AR. This element of accounting tracks the money coming into the corporation or association.

But like most things related to community finances, it’s much easier to talk about accounts receivable than manage them. Collecting payments is always a challenge because they come in at different times, and in different formats. Documenting this information is equally tedious and time consuming.

While we can’t eliminate this responsibility for you, we can suggest some ways to simplify the AR workflow for you and your team.

Table of contents

Regulate billing practices

Without structure, rules, or established expectations, anything goes. But spontaneity isn’t exactly ideal when you’re trying to get money from 200 owners. That’s why it is so important to implement consistent billing practices. Not only does this create a routine for you and/or your staff, but residents aren’t left wondering when they might receive their invoices or how they should make payments.

By creating a sustainable AR workflow, condos and HOAs will find that late payments become less common. By sending billing statements in the same format, at the same time each month, your residents become familiar with a routine. As a result, they’ll become more accustomed to making payments the same way at the same time.

Use electronic billing and online payments

Online banking has become almost ubiquitous in North America. Mobile apps make this option accessible to all age demographics, and the convenience cannot be overstated. So doesn’t it make good sense to offer online payment options to residents?

Not only does it make the payment process far easier for the people who live in the community, but it creates less work for you.

Teams that are still documenting accounts receivable payments manually are more prone to making mistakes. Between writing down payments, updating balances, and creating receipts, it’s understandable why someone might forget to fill in a field or add an extra “0.”

But even a small mistake can lead to bigger problems, and can even create conflict between residents and staff. Furthermore, time is wasted when someone has to go back and review the numbers.

Then there’s the issue of storing and locating physical records. Paper can easily be misplaced or lost, and aside from the obvious problems associated with losing documents, missing information can lead to costly compliance violations.

Electronic billing and online payments reduce manual data entry work for staff, and create records automatically. If you decide to use a cloud-based system, you’ll have the ability to access records from any computer. That way, you aren’t tied to the office.

It’s important to note that not every resident will want to make online payments. Your condo or HOA could install a secure lockbox so that you don’t have to arrange a meeting with these individuals to receive a payment on time.

Set up automations

With a digital AR system, you can also create automations to bypass some of the most tedious AR tasks. This typically includes email automation (late payment reminders, confirmation of payment) as well as sending out invoices.

Remove “information silos”

A cloud-based AR system ensures that anyone who needs access to accounts receivable information can get it, no matter where they are working from. Conversely, when team members have to wait for information because it is siloed off, it slows down the entire process.

Follow the process when collecting late payments

Inevitably, there will be residents who are consistently late with payments, or who avoid them altogether. Instead of having to figure out what to do next each time this happens, follow the condo or HOA’s rules/ procedures laid out in the governing documents.

Make sure all actions are in accordance with local laws. For example, you are probably required to give residents written notices and a reasonable amount of time to pay fees before more severe actions are taken.

Corporations/associations do have the power to pursue residents for unpaid fees, and to recover any legal expenses incurred while trying to collect money owed from delinquent owners.

These are some of the actions that communities are permitted to take while trying to secure outstanding fees:

  • Send the resident a notice of arrears
  • Apply interest to outstanding arrears after a certain amount of time has passed
  • Revoke the owner’s right to vote
  • Revoke a resident’s access to shared facilities
  • Contact collections
  • Contact legal counsel
  • File a Notice of Lien
  • Register lien

Conclusion

Accounts receivable is an ongoing responsibility that requires a great deal of time and resources. The less you and your team have to do by hand, the happier you’ll be.

It is recommended that condos and HOAs look into AR software to simplify and speed up workflows. The money you invest in this solution will be less than the costs associated with conducting this process manually. Not only can it help keep processes more consistent, but you will probably find that you make fewer errors.

Your time is valuable; spend it wisely.

 

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Manage your annual meetings from anywhere! with BuildingBoard, the solution that lets you manage annual meetings and elections remotely or in-person.

Manage your annual meetings from anywhere! with BuildingBoard, the solution that lets you manage annual meetings and elections remotely or in-person.

  • Posted: Jul 18, 2023
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Manage your annual meetings from anywhere!
From BuildingLink, the name you trust.

BuildingLink, the industry’s most trusted property management software, has an exciting new product!

Meet BuildingBoard, the solution that lets you manage annual meetings and elections remotely or in-person.

Save time and money!

Let us show you how we can help!

BuildingLink has an exciting new product.

Meet BuildingBoard, an e-voting and virtual meeting solution to streamline annual sessions for your properties. With this tool, you can:

·        Invite unit owners to meetings seamlessly via email

·        Send meeting reminders and add candidates to ballots

·        Host annual meetings virtually

·        Achieve quorum at every annual meeting

·        Automate voting – each unit owner votes via their computer or smartphone (whew, no more manual counting!)

Click here to learn more BuildingBoard
and start running a better meeting today!

So, go ahead and kick up your feet! Optimize all of the day-to-day business you already take care of with BuildingLink by trusting us to support your annual meetings too.

Ready to make your life easier?
Reach out to sales@buildingboard.com.

Richard Worth

Regional Sales Director – Florida

407-529-6063

Richard@BuildingLink.com

As a community association manager, you are responsible for overseeing and managing the operations of an association

As a community association manager, you are responsible for overseeing and managing the operations of an association

  • Posted: Apr 25, 2023
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WHY WE CAN’T REVIEW LEGAL DOCUMENTS

By Rafael Aquino  ( see below the article )

As a community association manager, you are responsible for overseeing and managing the operations of an association. Board members rely heavily on their expertise and knowledge to ensure the smooth functioning of the association. However, there are times when board members may ask a CAM to assist them in tasks outside their job responsibilities.

One such task is reviewing legal documents for the association. While it may seem like a simple task, it is not something that community association managers are permitted to do. This is because reviewing legal documents requires legal expertise and knowledge, which only a licensed attorney can provide.

Certain ethical and legal obligations bind community association managers. We are not licensed to provide legal advice or services, and doing so could put our license and reputation at risk. It is essential to understand that giving legal advice or services without a license is illegal and could lead to severe consequences.

If a board member asks you to review legal documents, you must inform them that you are not permitted to do so. Instead, it would be best if you recommended that they consult with a licensed attorney specializing in community association law. This will protect your license and reputation and ensure that the association receives the best possible legal advice.

It is also important to note that if a community association manager recommends a particular provider for legal services, it is for a reason. When recommending a provider, they do so based on their knowledge and experience in the industry.

To put it in perspective, it would be like asking a dentist to perform brain surgery. While both are in the medical field, they require vastly different skill sets and knowledge. Just like a dentist would recommend a neurosurgeon for brain surgery, a community association manager would recommend a licensed attorney for legal services.

In conclusion, as community association managers, we must understand and uphold our ethical and legal obligations. Reviewing legal documents is not within the scope of our job responsibilities, and it is important to recommend a licensed attorney for such tasks. By doing so, we are protecting our license and reputation and ensuring that the association receives the best possible legal advice.

For more information about Rafael P. Aquino and Affinity Management Services

please visit www.ManagedByAffinity.com or call 1-800-977-6279

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Apr 19 Free Lunch & Learn: How To Select A Contractor. | Sponsored by KBRLegal

Apr 19 Free Lunch & Learn: How To Select A Contractor. | Sponsored by KBRLegal

  • Posted: Apr 17, 2023
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This one-hour class will guide association members, CAMs, and building managers through the process of how to select a contractor for an upcoming commercial project. It starts with knowing your stakeholder, creating an RFP, hosting a pre-bid meeting, evaluating the quotes, and ends with making your contractor recommendation.

Wednesday, April 19, 2023

Meet the sponsors at 11:30 a.m.

Class begins at 12 p.m.

 

Capriccio Ristorante

2424 N University Drive, Pembroke Pines, FL 33024

1 Credit OPP/ELE

Course #9631934 | Provider #0007984

 

Register on Eventbrite by April 18. Space is limited.

Lunch is generously sponsored by: SFPMA Members.

Bashor & Legendre, LLP

Centennial Bank

Kaye Bender Rembaum

M.A. Construction Group

Rainbow Roofing Solutions

United Claims Specialists

Wayne Automatic Fire Sprinklers, Inc.

WeDry USA

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Have you heard about our “Collect 4 Free” Program? Find out how it protects and benefits your Community Association by Katzman Chandler

Have you heard about our “Collect 4 Free” Program? Find out how it protects and benefits your Community Association by Katzman Chandler

  • Posted: Apr 03, 2023
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Have you heard about our “Collect 4 Free” Program? Find out how it protects and benefits your Community Association

by Katzman Chandler

SAVE YOUR ASSOCIATION MONEY & ENSURE FINANCIAL STABILITY.

Katzman Chandler’s Collect 4 Free Program

We guarantee, by written contract, that your Association will NEVER receive an invoice for Costs or Legal Fees advanced and/or incurred by our Law Firm in providing delinquent account collection services under our “COLLECT 4 FREE” Delinquent Account Collection Option.

Contact us today, and let us show you how you can immediately reduce the potential future monetary shortfall in your Association’s budget resulting from owner delinquency, as well as ensure a healthy financial future for your Community…

COLLECT 4 FREE!Katzman Chandler’s “COLLECT 4 FREE” Delinquent Account Collection Option is a truly unique program that guarantees, in writing, that your Association will NEVER receive an invoice for Costs or Legal Fees incurred by our Law Firm in providing delinquent account collection services.

Katzman Chandler’s “COLLECT 4 FREE” Delinquent Account Collection Option promotes efficiency in your Association’s operations by allowing your Community to timely and effectively pursue delinquent accounts and quickly collect delinquent assessments owed, rather than unnecessarily carrying delinquent owner debt on the Association’s books for extended periods of time.

Katzman Chandler’s “COLLECT 4 FREE” Delinquent Account Collection Option provides your Community with the ability to pursue delinquent accounts while avoiding the potential Risk, Liability and/or Financial Exposure to your Association for the payment of Costs and Legal Fees traditionally associated with Community Association Collection and Foreclosure actions.

Why Collect 4 Free?

Engaging Katzman Chandler and electing to take advantage of our “COLLECT 4 FREE” Delinquent Account Collection Option makes complete financial sense for nearly all qualifying Community Associations, including yours. Most Associations qualify. Call us today to confirm that yours does!

We are so confident in our ability to successfully collect upon your newly delinquent accounts, that we are willing to shift the ultimate financial responsibility for the Costs and Legal Fees incurred in the process from your Community to our Law Firm.

Our confidence in this regard comes from our depth of experience in not only handling delinquent account collection, but forecasting trends in delinquent account collection.

Katzman Chandler’s attorneys and staff have successfully resolved tens of thousands of delinquent assessment accounts on behalf of Community Associations over the past two decades, and welcome the opportunity to collect your Community’s delinquent accounts as well – with COLLECT 4 FREE!

If you are a new addition to the Katzman Chandler family of clients, and have delinquent accounts in collection with your prior attorney, Katzman Chandler can take over your Association’s existing/aged collection files and pursue them under a full advancement of Costs and Legal Fees option.

In addition to the obvious benefits of our “COLLECT 4 FREE”, we offer robust online status reports available 24/7, paperless communications sent automatically via email and an owner website portal to facilitate communication, expedite payoffs and obtain quick settlements of delinquent accounts.

Contact us today:

Schedule a Complimentary Consultation

“WE WANT TO BE COMMITTED TO YOUR COMMUNITY”

by clicking the following link: https://bit.ly/3ZHoWOY

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Resident Experience Management platform can help you deliver superior resident experiences and help you exceed resident expectations.

Resident Experience Management platform can help you deliver superior resident experiences and help you exceed resident expectations.

  • Posted: Apr 03, 2023
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An effective portal solution for managing electronic communications with features that increases the resident experience. In this article, we look at how our Resident Experience Management platform can help you deliver superior resident experiences and help you exceed resident expectations.

By Concierge Plus

Due to pandemic restrictions, many management offices were inaccessible to residents. This caused a greater reliance on telephone and e-mail communication. For many residents, failure of management to respond to their queries in a proper way created distrust and a perception that the management company is incompetent. The root cause to this problem is the lack of an effective portal solution for managing electronic communications with features that increases the resident experience. In this article, we look at how our Resident Experience Management platform can help you deliver superior resident experiences and help you exceed resident expectations.

Efficient maintenance request process

The main responsibility of any management company is to ensure that community associations are well maintained. Residents should be able to report maintenance requests as soon as possible from wherever they are. While calls and text messages can get your attention, residents might not be able to explain the situation entirely. However, via Concierge Plus’ Service Request feature, they can give details of their concern and even upload pictures or videos to aid their explanation.
Requests are always tracked by unit, so you’ll always be able to access a history of what happened. And full reporting features mean you can very quickly generate all the information you need to update your board or your residents.

Mobile-Service-Request

Transparency in association governance

Since the tragic Surfside condo collapse in Miami, residents are asking for more transparency from their elected board members. Transparency is characterized by visibility or accessibility of information concerning association practices.
Board members can use Concierge Plus as a platform for keeping residents in the loop with regards to anything related to building maintenance. Since the tragic Surfside condo collapse, we’ve been told that residents are particularly asking for their board’s plan on risk mitigation.
Board members can share documents such as a Reserve Study with unit owners using our File Sharing feature. This is a password-protected repository for important documents and is a great place to store articles of incorporation, meeting minutes, rules and regulations.

Mobile-Media-Library-Folder

Virtual owner meetings and AGMs

As the pandemic eases and we resume in-person gatherings, hybrid meetings are slowly becoming a permanent part of how community associations function.
Board members can easily add HD web conferencing, automate attendance, enable eligible owners to vote online, and more through our all-in-one virtual meeting platform integration with GetQuorum.
Advanced and real-time electronic voting allows owners to vote securely on important meeting matters before or during the meeting using GetQuorum’s dynamic online platform.
Electronic voting offers substantial cost savings, improved efficiency and significantly reduces errors associated with traditional paper-based voting.

Efficient package management

Community managers, security guards and concierges everywhere are fighting a losing battle trying to keep up with the unrelenting wave of incoming parcels during the holiday season. When staff members spend more time accepting, storing and retrieving parcels, they can’t focus on their security duties.
With Concierge Plus’ Notification feature, you can avoid ending up with front desk congestion and angry residents. Use Concierge Plus to manage package deliveries with automated emails and an easy tracking process. Residents can select to be notified by text message (SMS) or by an automated phone call, which is perfect for urgent and timely notifications.
With our barcode scanner your team can quickly scan every package that arrives, and when residents come to pick-up their packages, they simply sign on a digital signature pad to confirm their identity permanently and securely.
Last but not least, we also offer beautifully designed, 40″ digital lobby display screens which you can use to alert residents that items are available for pick-up.

Features-IntergratedHardware-DisplayScreen-300x203

Secure resident and visitor parking

For most residents, the safety factors associated with condo living are a huge consideration in choosing life in a community association.
Concierge Plus can help you manage who is coming in and out, where they are parking, and if they have permission to enter the building. Our integrated hardware offerings alleviate confusion with parking pass printers that clearly denote who is parking where.
The printer connects easily to your computer and facilitates tracking of visitor vehicle details such as license plate number, make, and color. A parking pass receipt will print automatically for visitors to display on their dashboards.

 

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Call us for an estimate and make your neighbors envious of your home! by Chucks Painting.

Call us for an estimate and make your neighbors envious of your home! by Chucks Painting.

  • Posted: Mar 03, 2023
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Located in Davie Florida the owners of this house wanted to get rid of the orange and white dated colors.

Well as you can see, Chuck’s Painting, Inc. went above and beyond.

We are a full service painting company we provide the highest level of quality and service and we are capable of handling all of your painting needs. We specialize in Interior/Exterior Residential painting Townhouse communities Condominium communities Commercial buildings Shopping Plazas and Business Parks.

 

Call us for an estimate and make your neighbors envious of your home!

Contact us today, Read and learn more about Chucks Painting

 

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